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SoftBank Backs Real Estate Tech

The Vision Fund invested $865m into Katerra, a real estate tech company.

Editor’s Remarks: Katerra designs, sources materials, manufactures components and builds properties at its Phoenix, Arizona factory. The startup currently has an order book of over $1.2bn, and has a plan in place to scale up its manufacturing operations. Katerra’s CEO Michael Marks founded the company after observing how fragmented and low tech the construction industry is. SoftBank has been active in the property market, and last year acquired Fortress Investment Group, which had an extensive portfolio of real estate assets. SoftBank Investment Advisers managing director Jeffrey Housenbold will join Katerra’s board as part of the deal.

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